Exploration Development 2001 P

07/20/2001 -- Alaska to hold more North Slope Foothills lease sales
Alaska Gov. Tony Knowles said Thursday the state will add some North Slope Foothills area-wide oil and gas lease sales to its 2002-06 leasing schedule, to be released in January. Knowles said that was in response to increased industry interest in North Slope natural gas.
07/19/2001 -- PanCanadian and MGV expand Alberta coalbed methane drilling program
PanCanadian Petroleum Ltd. and MGV Energy Inc. said Thursday their coalbed methane joint venture will begin drilling pilot wells in the fall. They said results from 21 exploration wells have encouraged their joint venture to drill pilot wells on promising prospects.
07/19/2001 -- PetroChina makes gas discovery at Tarim basin
PetroChina Co. has made a natural gas discovery in Tarim basin in northwestern China. The discovery well Ake-1 was drilled to 3,341 m. It flowed 139,000 cu m/day of natural gas on an 8-mm choke.
07/18/2001 -- Norsk Hydro awards Coflexip letter of intent for Fram Vest project
Norsk Hydro AS has awarded Coflexip Stena Offshore Norge AS a letter of intent for an 80 million euro ($68.4 million) engineering, procurement, construction, and installation contract for a development in the North Sea.
07/17/2001 -- Centurion to acquire TransAtlantic concession stakes in Egypt
Centurion Petroleum Corp., the Egyptian arm of Centurion Energy International Inc., Calgary, has signed a letter of intent to acquire stakes in two concessions in Egypt from TransAtlantic Petroleum Corp.
07/16/2001 -- CanBaikal awards letter of intent for Russia development
CanBaikal Resources Inc., Calgary, has awarded a letter of intent to Schlumberger Oilfield Services, a division of Schlumberger Ltd., New York City, for an integrated project management program on its 400-sq-km Untegey Block in Russia.
07/13/2001 -- Mariner Energy makes discovery at Yosemite in Gulf of Mexico
Mariner Energy Inc., Houston, has a discovery on the Yosemite prospect on Green Canyon 516 in the Gulf of Mexico that it plans to tie back 16 miles to the Allegheny development.
07/13/2001 -- BG hits gas at Rose prospect in southern North Sea
BG Group PLC has a gas discovery on Block 47/15b in the southern North Sea. The Rose R2 is in the Leman sand play fairway 55 km east of the Easington Terminal and 8 km northeast of Amethyst field. The well flowed 30 MMscfd of gas and 90 b/d of condensate on a 68/64-in. choke during testing.
07/13/2001 -- BP makes fifth gas find in 2 years in western Nile Delta
BP PLC has made its fifth gas find in 2 years in the western Nile Delta with the Libra K-1x well off the north coast of Egypt. The well, in 450 m of water, discovered gas in five separate zones, one of which was tested as rate of 22.3 MMscfd with a gas condensate ratio of 7.6 bbl/MMscf.
07/12/2001 -- MMS sets controversial eastern gulf lease Sale 181 for Dec. 5
The US Minerals Management Service said Thursday it plans to hold offshore lease Sale 181, offering tracts in the Eastern Gulf of Mexico, on Dec. 5 in New Orleans. Interior Sec. Gale Norton recently deleted 75% of the tracts that MMS had planned to offer.
07/12/2001 -- PanCanadian awards Deep Panuke FEED contract
PanCanadian Petroleum Ltd. awarded a contract for the front-end engineering design of its Deep Panuke natural gas field development to a joint venture of contracting companies. The amount of the contract awarded to ACCENT-Saipem Energy Joint Venture was not disclosed.
07/12/2001 -- Statoil spuds first exploratory well off Faroe Islands
Statoil Faerøyene AS Wednesday spudded a wildcat to test the deepwater Longan prospect off the Faroes, the first well off the self-governing Danish islands. The well is in 941 m of water on license 003 in the Atlantic Margin near the UK continental shelf.
07/11/2001 -- Cultus, OMV awarded North West Shelf permits
The state of Western Australia and the federal government have awarded two permits off Western Australia to a consortium of Cultus Timor Sea Pty. Ltd. and OMV Petroleum Pty. Ltd., said the federal Ministry for Industry, Science, and Resources.
07/11/2001 -- Republicans push energy bill but admit ANWR is uphill battle
Republican leaders on Capitol Hill, backed by the Bush administration, Wednesday began a renewed but uphill campaign to pass legislation opening the Arctic National Wildlife Refuge coastal plain for exploration. The House Resources Committee began a hearing on energy policy reform legislation.
07/11/2001 -- Mitsubishi buys Occidental's stake in Tangguh field off Indonesia
Tangguh project partner BP PLC Wednesday welcomed the decision by Japan's Mitsubishi Corp. to buy Occidental Berau of Indonesia Inc.'s 16% stake in the gas field off Indonesia as improving the prospects of marketing the development's future production into Asia Pacific.
07/10/2001 -- Repsol-YPF outlines 5-year strategic plan
Repsol-YPF SA, Madrid, unveiled a 5-year strategic plan that will require it to invest 23.1 billion euros ($19.6 billion). By the end of 2005, the company plans to reduce debt levels to 30-35%, achieve a minimum return on capital employed of 15%, and increase oil and gas production 7.8%/year.
07/10/2001 -- Development work awarded for Lakshmi field off India
Partners in Lakshmi field off India have awarded a consortium of Australian company Clough Engineering and Hyundai Heavy Industries Co. Ltd. of South Korea an $80 million contract to develop the field.
07/10/2001 -- Amerada Hess to acquire Triton Energy for $3.2 billion
Amerada Hess Corp., New York City, said Tuesday it would acquire Triton Energy Ltd., Dallas, for $3.2 billion, including the assumption of $500 million of Triton debt. The transaction is expected to close in the third quarter.
07/09/2001 -- Colorado regulators consider overhaul of electric rules
The Colorado Public Utilities Commission is considering doing away with existing rules for forecasting and planning for the state's electric generation needs. Comments are due Monday on questions posed by the PUC about the adequacy of the integrated resource planning rules first adopted in 1992.
07/09/2001 -- Statoil signs long-term deal to supply Norwegian gas to the UK
Statoil AS said Monday that it has signed a 15-year deal to supply BP PLC up to 1.6 billion cu m/year of natural gas across the North Sea to the UK. It is the first such major deal since since the Frigg field contract in 1977.

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Exploration Development 2001 P